Banking Process Transformation 2025 RadarView™

June, 2025

Report Summary

This report provides businesses with a view of the banking process transformation services landscape. It begins with a summary of key enterprise and outsourcing trends and identifies the right service providers that companies can engage with to reshape the banking outsourcing services. We continue with a detailed assessment of 23 service providers offering banking process transformation services. Each profile overviews a service provider, its key IPs and assets, a list of representative clients and partnerships, and brief case studies. Each profile concludes with analyst insights on the provider’s practice maturity, domain ecosystem, and investments and innovation.

Why read this RadarView?

Banks are expanding their outsourcing strategies beyond traditional operations to include functions such as customer onboarding and credit risk evaluation, areas where service providers bring deep domain expertise and scalable digital solutions. There is a growing emphasis on intelligent automation and real-time analytics to streamline back-office workflows and elevate customer engagement. With service providers now embedding AI copilots into banking operations, tasks such as regulatory reporting, sentiment analysis, and exception handling are seeing marked improvements.

The Banking Process Transformation 2025 RadarView™ aids companies in identifying top service providers to transform their banking services. It also analyzes each service provider’s technology and delivery support capabilities, enabling organizations to identify the right strategic partners for their banking process transformation.

Moneyshot 2 1030x578 - Banking Process Transformation 2025 RadarView™

Featured providers

This RadarView includes a detailed analysis of the following service providers offering banking process transformation services: Accenture, Capgemini, Coforge, Cognizant, Concentrix, Datamatics, DXC, EXL, Firstsource, FIS Global, Genpact, HCLTech, IBM, Infosys, LTIMindtree, Mphasis, NTT DATA, Sutherland, TCS, Tech Mahindra, Teleperformance, Wipro, and WNS.

Methodology

Our evaluation of service providers is based on primary input from the providers, focused briefings, public disclosures, and Avasant’s ongoing market interactions. The assessment is across the three dimensions of practice maturity, domain ecosystem, and investments and innovation, leading to our recognition of those service providers that have brought the most value to the market over the past 12 months.

Table of contents

About the report (Page 3)

Executive summary (Pages 4–9)

    • Definition and scope of banking process transformation
    • Avasant recognizes 23 top-tier service providers offering banking process transformation services
    • Provider comparison

Supply-side trends (Pages 10–14)

    • Small enterprise clients are leading the revenue split, and North America is the highest contributor among geographies.
    • Manpower requirement is increasing due to evolving regulatory requirements, spiking the demand for outsourcing.
    • Clients now prefer outcome-based and hybrid pricing models over time-based ones, expecting clear business impact.
    • Focus on R&D has increased due to rapid innovation brought on by emerging technologies such as Gen AI.

Service provider profiles (Pages 15–61)

    • Detailed profiles for Accenture, Capgemini, Coforge, Cognizant, Concentrix, Datamatics, DXC, EXL, Firstsource, FIS Global, Genpact, HCLTech, IBM, Infosys, LTIMindtree, Mphasis, NTT Data, Sutherland, TCS, Tech Mahindra, Teleperformance, Wipro, and WNS.

Appendix (Pages 62–65)

    • RadarView assessment
    • Methodology and coverage
    • Interpretation of classification

Key contacts (Page 66)


Read the Research Byte based on this report. Please refer to Avasant’s Banking Process Transformation 2025 Market Insights™ for detailed insights on demand-side trends.